Is there a reason why leasehold purchase conveyancing in Oakley is more expensive?
In short, leasehold conveyancing in Oakley and Hampshire usually warrants more due diligence compared to freehold conveyancing. This includes lease investigation, corresponding with the landlord about the service of applicable notices, procuring current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Oakley?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am assisting my niece sell her house in Oakley. Does the solicitor commission an EPC or it is for the seller to coordinate?
After the abolition of Home Packs, EPC’s was kept a mandatory part of selling a house. An EPC needs to be commissioned in advance of the property being advertised. It is not something that law firms ordinarily organise. Where you are instructing a Oakley conveyancing lawyer they might be able to arrange EPC’s due to their relationships with reputable Oakley providers
We are getting the release of further funds on our home loan from Virgin Money as we intend to conduct alterations to our home in Oakley. Are we obliged to select a local Oakley solicitor on the Virgin Money conveyancing panel to deal with the legals?
Virgin Money don't usually appoint a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money conveyancing panel.
I have decided to exercise my right to buy my property in Oakley off the council. I have a mortgage agreed with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I used Wolstenholmes a few years ago for my conveyancing in Oakley. Now, I need the documents however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Oakley of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Oakley differ for newly converted properties?
Most buyers of new build property in Oakley come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Oakley usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Oakley or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Oakley ahead of appointing conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some lenders will refuse to give a mortgage on such a property.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. If you call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Oakley. Conveyancing may be slightly more expensive based on your lender's requirements.